Latvian Lats

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Latvian Lats

The currency of Latvia. It was introduced in 1993, replacing the Latvian rublis, which replaced the Soviet ruble. Since 2005, the lats has been pegged to the euro in a band set by the European Exchange Rate Mechanism; this is in preparation for replacement of the lats with the euro at some point during or after 2012.
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The Commission stresses the need to step up measures to decrease the amount of Latvian lat (LVL) cash in circulation wherever possible.
The Latvian lat has been stuck at the maximally weak end of its band against the euro, but other regional currencies have suffered less from contagion fears than when Latvia faced similar problems with its budget in mid-2009.
Speculation over a devaluation of the Latvian lat has led to a freezing up of Latvian money markets and hit Swedish banking stocks in recent weeks, because Swedish banks are exposed to the Latvian economy.
I know that moaning city-types are about as relevant to Fermanagh folk as last week's Latvian Lat exchange rate (0.
The euro to Latvian lat (LVL) exchange rate is also likely to be set during the meeting.
On January 1, 2014, its currency, the Latvian Lats, was replaced by the Euro.
By entering the Eurozone Latvia has changed its national currency from Latvian Lats (LVL) to Euro (EUR).
Since Wednesday, it has no longer been possible to make payments in Latvian lats, the two-week dual circulation period having ended on 14 January.
The official conversion rate of the Latvian lats to the euro was set at 0.
We understand that people like using the Latvian lats and that it is an important symbol," he said.
Once Latvia substitutes its Latvian Lats for the Euro, it will be economically even more dependent from the EU and its regulations, but it would also present new trade opportunities for Latvian companies and therefore cultivate the economy and increase human well-being.
As per the agreement, Latvia's central bank may borrow up to EUR500m in exchange for Latvian lats.

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